Should young people save first or invest earlier?
Well, in my opinion there is a list here to set the stage right...
1. Young people? How young?
We can first teach our kids the value of money. How come we need to work for money and why. Then they will have a better understandiing of it. That money is the "lubricant" of life essential needs and wants...
We have to let them understand that "things don't just drop from the sky" You have to work hard for what you want to achieve and aquire.
During their schooling years we can slowly teach them about why we need to pay the shopkeeper to get our groceries and other stuffs that we need and how the "system" works...
And if they can understand then we can slowly teach them about simple economic theories and how it works.
This would let them have a better appreciation of the economy and the process of buying and selling or trading goods..
2. You need money first before you can invest.
First you need funds (money) before you can do any investments right?
As such, they need to go out into the working world, they can accumulate their savings for investments...this would let them learn that there is "no free lunch"
If parents just give their children a headstart by investing for them first while they are youngthat will be good as they would not have trouble in their quest to accumulate their savings for investments...
But then again, may I ask if this is a good idea?
3. Best to let our kids to "earn their keep" first
In this way they would better appreciate the value of money and will invest and not gamble on the salaries they earned.
3. Time is money and the essence of investing.
So, as soon as they can understand how the market works, learned enough and done enough data collection and due diligence on their selection of stocks or equities then they can start investing.
So guys this is my two cents worth...
Happy investing guys!
Cheers!
[Events] Should young people save first or invest earlier?
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